This is the latest exchange rate for the Euro today which is the official currency of European Union. The currency is the Euro with symbol code: EUR.
The EUR exchange rate is affected by economic conditions within European Union. Things such as interest rate changes, GDP and unemployment can affect the Euro currency. Economic policies in European Union are set by the European Central Bank at regular meetings throughout the year.
|1 Euro =||1.18 USD|
|1 Euro =||1.56 AUD|
|1 Euro =||0.88 GBP|
|1 Euro =||1.17 CHF|
|1 Euro =||1.51 CAD|
|1 Euro =||75.88 INR|
This table displays other common conversions of the Euro in US Dollars.
About The Euro
Since the 1960s, the European Union had been trying to create a common currency for all EU nations to use. There were several setbacks since a few countries did not want to use a common currency, but the euro came to be in 1999. All members of the EU, except for the United Kingdom and Denmark, began using the euro at that time.
The euro existed only virtually at first. However, in 2002, the circulation of paper notes and coins began. This was the first time the Euro exchange rate was being calculated. The Eurogroup governs the use of euros, alongside the European Central Bank. This group has governed the euro since the beginning, but its power was not finalized until after the Lisbon treaty in 2009.
Countries were allowed to keep their previous currency in circulation until February 28, 2002. After that, legacy currency was no longer considered legal tender. Since the creation of the euro, several more countries have joined the EU, and thus adopted the euro as their currency. These countries include Slovenia, Cyprus, Malta and Slovakia, among others.
Banknotes come in seven different denominations:€5,€10,€20,€50,€100,€200 and€500. Each banknote has a distinct color and size so that they are easily discernible. In addition, there are eight denominations available in coins, including 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, 1 euro and 2 euros. Each of these coins has a different size and color. One side of the coins contains a common design found in all countries, and the other side of the coins features a country-specific design.
Historical Euro Exchange Rate Chart
Related to Euro are the following posts: